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Establishment of Asian free trade zone positive on trade


09:17, December 07, 2012

BEIJING, Dec. 6 (Xinhua) -- The prospect of founding an Asian free trade zone is optimistic and it would have a positive impact on the region, according to an Asian Development Bank expert here on Thursday.

Free trade agreement (FTA) talks among China, Japan and the Republic of Korea (ROK) are under way, and Masahiro Kawai, dean of Asian Development Bank Institute (ADBI), said a regional FTA would help eliminate trade barriers.

It would also help growth of foreign trade among Asian countries, according to Masahiro, who made the comments at a seminar on futures of Asian FTA.

As of November 2012, a total of 80 FTAs have come into operation among Asian economies, along with many other agreements under negotiation, Masahiro said.

ADBI said 53 percent of 841 enterprises it surveyed in China, Japan, the ROK, the Philippines, Thailand and Singapore are using or plan to use FTAs.

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